Olstein Capital Management L.P. Purchases 78,000 Shares of Schlumberger Limited (NYSE:SLB)

Olstein Capital Management L.P. boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 47.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 244,000 shares of the oil and gas company’s stock after acquiring an additional 78,000 shares during the period. Schlumberger comprises 1.7% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 8th biggest holding. Olstein Capital Management L.P.’s holdings in Schlumberger were worth $10,236,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SLB. Norden Group LLC purchased a new position in shares of Schlumberger in the 1st quarter valued at about $253,000. Larson Financial Group LLC raised its holdings in Schlumberger by 123.5% during the first quarter. Larson Financial Group LLC now owns 2,076 shares of the oil and gas company’s stock worth $114,000 after purchasing an additional 1,147 shares in the last quarter. Signaturefd LLC raised its holdings in Schlumberger by 5.2% during the first quarter. Signaturefd LLC now owns 22,612 shares of the oil and gas company’s stock worth $1,239,000 after purchasing an additional 1,119 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares during the last quarter. Finally, Advisory Services Network LLC boosted its holdings in shares of Schlumberger by 55.3% in the 1st quarter. Advisory Services Network LLC now owns 79,022 shares of the oil and gas company’s stock valued at $4,331,000 after buying an additional 28,152 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Evercore ISI cut their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Morgan Stanley decreased their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company cut their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Finally, Bank of America lowered their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Price Performance

Schlumberger stock traded down $0.60 during midday trading on Thursday, reaching $43.17. The company’s stock had a trading volume of 1,862,115 shares, compared to its average volume of 11,205,061. The firm has a market capitalization of $60.96 billion, a PE ratio of 14.08, a P/E/G ratio of 1.42 and a beta of 1.52. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69. The stock’s 50 day simple moving average is $42.25 and its 200 day simple moving average is $44.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the business earned $0.78 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Schlumberger Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.